Announcing UT Austin’s Call for Innovation
Introduction
For Genesis, 2022 has been a year of reaching new heights, breaking old records, and investing in student entrepreneurs. This past year, we positioned ourselves to be a leading catalyst in student innovation and technology, and we did it at one of the leading universities in the United States, The University of Texas at Austin. Our mission at Genesis is to enable student innovators and leaders to reach their greatest potential through mentorship, startup capital, and real-world investment experience.
In an effort to further this mission, we ran a new initiative focused on smart energy solutions that enabled us to source some of the brightest minds at UT Austin and give them the resources and capital to drive their venture forward.
This year, Genesis and the Energy Institute partnered to launch UT Austin’s Smart Energy Call For Innovation (C4i) in collaboration with Affinity Engineering, Chevron, and Shell. Through C4i, we brought together UT Austin and three amazing companies in the energy sector to invest in student ventures with the potential to create commercially-viable innovations. Our commitment to sustainable energy solutions was driven by factors that affect our everyday lives. Resource scarcity, climate concerns, and policy decisions in the industry have inspired monumental changes and efforts from the energy sector. While political discussions surrounding these topics makes reaching consensus challenging, the massive opportunity to develop game-changing technologies and innovative solutions remains undisputed.
The next step was getting this opportunity in front of student innovators. With the help of our amazing Deal Flow team at Genesis, we were able to leverage multiple avenues of outreach to push this initiative across the 40 acres. We partnered with the American Society of Mechanical Engineers, Engineers for a Sustainable World, and the Student Engineering Council to further our reach on campus. The C4i was launched with an event in the Cockrell School Mulva Auditorium to introduce the call for innovation to the UT startup ecosystem.
At this event, we invited CEOs of Genesis startups to speak about their experiences in startups and energy, how Genesis has helped them, and double-clicked on how huge of an opportunity C4i is for student innovators looking to break into the energy industry. Mandeep Patel, CEO of ElecTrip (Genesis portfolio company) discussed his experience launching a startup as a UT Student and landing big customers like Shell. Rithwik Pattikonda, CEO of OctoShop (another Genesis portfolio company), shared his experience in building a high impact startup that was acquired by Ibotta in a multimillion dollar deal. Their experience inspired current and prospective student entrepreneurs alike.
“That event lit a fire under me.”
Marco Serrano (Mechanical Engineering ‘24)
Outreach efforts did not stop here. We went on to pursue social media campaigns partnered with the Cockrell School of Engineering and hosted another successful event with the UT American Marketing Association (AMA).
Through this outreach, we accumulated numerous applications across multiple colleges. Today, we are proud to announce Genesis investment in two outstanding student startups: Sweetwater Mining Co. and Gazelle Ecosolutions! Read more to learn about these outstanding companies.
Conclusion
This inaugural Call for Innovation is UT Austin’s latest investment in the future of student innovators. Through its unique collaboration between Longhorn students and alumni, Genesis leverages its singular expertise and extensive network to give students real world exposure to the Venture Capital world of due diligence, deal sourcing, and portfolio support.
Genesis is proud to be working with Affinity Engineering, Chevron, and Shell, and the UT Austin Energy Institute to drive innovation and smart energy solutions. Thank you to all of the benefactors, mentors, alumni and students who contribute to the impact Genesis is making on the world. Together, we are helping amazing leaders unlock their full potential right here at UT Austin.
Visit our website at www.genesisut.com and our Impact Report to learn more about Genesis, the amazing people involved, and how to get involved.
